Aggressive’ Bearish Options Activity Seen in CSX Corporation

October 4, 2016October 4, 2016Hazel Jackson

In today’s session CSX Corporation (CSX) recorded an unusually high (3,371) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the May, 2017 put, expecting serious CSX decrease. With 3,371 contracts traded and 354 open interest for the May, 17 contract, it seems this is a quite bearish bet. The option with symbol: CSX170519P00030000 closed last at: $2.15 or 13.7% down. About 1.45 million shares traded hands. CSX Corporation (NASDAQ:CSX) has risen 23.50% since March 1, 2016 and is uptrending. It has outperformed by 14.26% the S&P500.

Analysts await CSX Corporation (NASDAQ:CSX) to report earnings on October, 11. They expect $0.46 earnings per share, down 11.54% or $0.06 from last year’s $0.52 per share. CSX’s profit will be $434.23 million for 16.59 P/E if the $0.46 EPS becomes a reality. After $0.47 actual earnings per share reported by CSX Corporation for the previous quarter, Wall Street now forecasts -2.13% negative EPS growth.

CSX Corporation (NASDAQ:CSX) Ratings Coverage

Out of 6 analysts covering CSX Corp (NASDAQ:CSX), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $33 is the highest target while $25.0 is the lowest. The $27.90 average target is -8.61% below today’s ($30.53) stock price. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. As per Tuesday, February 23, the company rating was upgraded by Bank of America. The firm earned “Outperform” rating on Thursday, January 14 by RBC Capital Markets. The stock of CSX Corporation (NASDAQ:CSX) has “Market Perform” rating given on Thursday, January 14 by Cowen & Co. The rating was maintained by Argus Research on Tuesday, January 19 with “Buy”.

Insitutional Activity: The institutional sentiment increased to 0.95 in Q2 2016. Its up 0.08, from 0.87 in 2016Q1. The ratio improved, as 53 funds sold all CSX Corporation shares owned while 275 reduced positions. 64 funds bought stakes while 246 increased positions. They now own 639.14 million shares or 2.82% less from 657.68 million shares in 2016Q1.
Scopus Asset L P, a New York-based fund reported 888,117 shares. Coastline Trust, a Rhode Island-based fund reported 31,540 shares. Aspen Inv holds 0.49% or 22,946 shares in its portfolio. Fort Washington Investment Oh has 0.83% invested in the company for 1.70M shares. Courier Cap reported 7,888 shares or 0.04% of all its holdings. Jones Financial Cos Lllp accumulated 28,758 shares or 0% of the stock. Moreover, Ridgeworth Capital Mgmt Limited Co has 0.97% invested in CSX Corporation (NASDAQ:CSX) for 4.17 million shares. Schafer Cullen Management last reported 0.01% of its portfolio in the stock. Iowa National Bank & Trust reported 3,540 shares or 0.04% of all its holdings. The Alabama-based Andra Ap has invested 0.08% in CSX Corporation (NASDAQ:CSX). Godshalk Welsh Capital last reported 0.39% of its portfolio in the stock. Estabrook Cap has 0% invested in the company for 14,235 shares. Employees Retirement Of Texas has invested 0.02% of its portfolio in CSX Corporation (NASDAQ:CSX). Davidson Garrard, a Virginia-based fund reported 8,486 shares. High Point Commercial Bank Trust Com has 4,850 shares for 0.03% of their US portfolio.

Insider Transactions: Since September 26, 2016, the stock had 0 buys, and 1 sale for $510,184 net activity. GOODEN CLARENCE W also sold $510,184 worth of CSX Corporation (NASDAQ:CSX) on Monday, September 26.

CSX Corporation, together with its subsidiaries, is a transportation company. The company has a market cap of $28.81 billion. The Firm provides rail transportation services, including rail service and the transport of intermodal containers and trailers. It has a 16.68 P/E ratio. The Firm serves three lines of business, such as merchandise business, coal business and intermodal business.